R/€ = 14.21 Change: 0.13
R/$ = 11.57 Change: 0.11
Au 1328.17 $/oz Change: 6.21
Pt 995.00 $/oz Change: 7.19


South Africa’s 112 000 gold mineworkers earn R30bn yearly

By: Martin Creamer     5th February 2018 Despite South Africa no longer being a significant producer of gold on a global scale, gold mining remained a key part of the South Africa economy by providing jobs for more than 112 000 people who earn R30-billion a year, Chamber of Mines of South Africa CEO Roger Baxter said on Monday. Speaking... 

As global economy hums, Davos turns bullish on commodities

By: Bloomberg     27th January 2018 The last two editions of the World Economic Forum were somber affairs for oil industry chieftains and commodities tycoons. The consensus in Davos was that oil was going to stay low, OPEC would fail to lift prices, and the mining industry faced a difficult time. Roll forward to 2018 and there’s... 

Cyberattacks pose risk to financial stability, SARB warns

By: Terence Creamer     25th January 2018 Rising cybersecurity risks could undermine financial stability, South African Reserve Bank (SARB) deputy governor Francois Groepe warns. Speaking in Cape Town at the thirteenth Basel Committee on Banking Supervision – Financial Stability Institute high-level meeting for Africa, Groepe said the... 

WEF launches global centre to combat threat of cybersecurity

By: African News Agency      24th January 2018 The World Economic Forum (WEF) on Wednesday announced a new Global Centre for Cyber-security to try and help build a safe and secure global cyberspace and to minimise the threat of a "digital dark age". In a statement, the WEF said the centre will be based in Geneva, Switzerland, and will... 

SA’s FM, Manufacturing & Fleet Pain Points Revealed In USSD Poll

     23rd January 2018 Issued by Perfect Word Consulting (Pty) Ltd A recent poll has revealed that the South African facilities management, manufacturing and fleet management industries face four distinct pain points; work orders, asset registers, downtime and contractors. The challenges within these areas include... 

Regulator clamps down on PRASA’s manual operations after crash

By: Natasha Odendaal     10th January 2018 The Railway Safety Regulator (RSR) has banned the Passenger Rail Agency of South Africa (PRASA) from operating trains under “abnormal conditions”, or manual authorisations, following a second accident in less than a week involving passenger trains. Two Metrorail trains were involved in a rear-end... 

Global air cargo rising, aviation working to revamp operations

By: Natasha Odendaal     6th December 2017 In a year characterised by positive growth, global air cargo is setting the stage for dramatic modernisation and transformation, the International Air Transportation Association (Iata) said on Wednesday. Air cargo accounted for about $6-trillion in the value of goods, representing 35% of global... 

Airport development not keeping pace with passenger growth

By: Natasha Odendaal     6th December 2017 Globally, airport capacity and airline demand for access to airports have not kept pace with one another, setting global aviation on a path to chaos should mitigation measures not be taken with urgency, according to the International Air Transport Association (Iata). Passenger load factors are... 

Iata prioritises safe integration of drones into airspace

By: Natasha Odendaal     5th December 2017 Given the evolution of unmanned aircraft systems (UAS), more commonly referred to as drones, the International Air Transportation Association (Iata) is working on three specific focus areas to ensure this new branch of aviation is safely integrated and transitioned into the global airspace. The... 

Global air transport set for strong 2018 growth

By: Natasha Odendaal     5th December 2017 Despite entering what is typically considered the downturn year of a cyclical period in air travel, the aviation industry is expected to continue its strong growth in 2018, underpinned by strong global economic growth. While the past three cycles in air travel lasted around eight years before... 

Lucapa sells 4 126 ct parcel for A$9.6m

By: Megan van Wyngaardt     20th November 2017 ASX-listed Lucapa Diamond Company sold 4 126 ct of diamonds, achieving proceeds of A$9.6-million at its eighth alluvial diamond sale for the year. Sold in conjunction with its partners, Empresa Nacional de Diamantes and Rosas & Petalas, the diamonds from the Lulo project in Angola averaged A$2... 

Flawless 163 ct diamond reaps $34m in auction

By: Bloomberg     15th November 2017 A flawless 163 ct clear diamond fetched about $34-million at Christie’s in Geneva on Tuesday evening. The diamond, the centerpiece of an asymmetric gem-studded necklace designed by Fawaz Gruosi, founder of Geneva jeweler De Grisogono, was the largest of its kind ever auctioned. 

Shipping company cleaning up Durban cargo spill

By: News24Wire      6th November 2017 According to a statement released in Geneva on Friday by Mediterranean Shipping Company (MSC) specialised boats and machinery are trying to extract the vast quantities of "nurdles" (raw plastic pellets) floating in the Durban harbour following a cargo spill by container ship MSC Susanna 24 days... 

DTI calls for resolution on outstanding Doha issues

By: Schalk Burger     10th October 2017 Trade and Industry Minister Dr Rob Davies on Tuesday called for outcomes to be developed for the outstanding issues of the Doha Development Agenda (DDA). Davies was in Morocco attending the World Trade Organisation (WTO) Informal Ministerial Gathering, which was attended by Ministers from the 164... 

Radical? Really?

By: Keith Campbell     29th September 2017 Roughly in the middle of this month (September), speaking on the sidelines of the Annual General Meeting of his luxury goods businesses holding company, Switzerland-based Compagnie Financière Richemont, in Geneva, businessman Johann Rupert, generally regarded as South Africa’s richest man, said... 

World's richest mines slipping from hands of multinationals

By: Bloomberg     5th September 2017 Outnumbered and outflanked, Freeport-McMoRan CEO Richard Adkerson made an about-face. Only months before, Adkerson had dismissed the idea of selling a majority stake in the Phoenix-based company’s flagship Indonesian copper-and-gold mine to local investors. But, seated beside government officials... 

World treaty to ban and reduce mercury poison comes into force 

By: News24Wire      17th August 2017 It is rated as one of the top ten chemical poisons endangering human health and the natural world. Tiny drops of this poison can be found in human teeth, in fresh fish, in light bulbs, paints, batteries and even cosmetics. And it is in the air, water and soil everywhere, in varying amounts. 

UK reassures Sacu about future trade relations, reaffirms commitment to free trade

By: Keith Campbell     4th August 2017 The Southern African Customs Union (SACU) has welcomed the UK’s intention of preventing disruption of trade relations with other countries as it leaves the European Union (EU). This was affirmed in a Joint Statement issued by SACU and the UK following discussions between Trade Ministers from the... 

Vitol drops plan to buy Gupta stake in RBCT

By: Bloomberg     18th July 2017 Vitol Group, the world’s largest independent oil trader, walked away from a deal to buy a stake in the Richards Bay Coal Terminal from a company controlled by South Africa’s Gupta family. “The consortium comprising Vitol and Burgh Group Holdings will not be proceeding with the acquisition,” the... 

CERN electricity upgrade project, Switzerland

By: Sheila Barradas     7th July 2017 The project entails the construction of new switchgear to upgrade the European Organisation for Nuclear Research’s electricity grid. 

LEM completes its surface mounted SO8 & SO16 isolated current transducers range with an integrated current conductor

     22nd June 2017 Key points: Open-loop Hall effect ASIC-based current transducers to measure from 4 A up to 30 A DC, AC or pulsed Cost effective, 2 x IC packaging for SMD automatic assembly Excellent immunity to external fields Good offset and gain drifts Wide operating temperature range from -40 to +125ºC Up to... 

South African Weather Service welcomes new CEO

By: Megan van Wyngaardt     23rd May 2017 The South African Weather Service (SAWS) has appointed Jeremiah Lengoasa CEO. He returns to SAWS after 12 years, after he left the organisation to join the World Meteorological Organisation, in Geneva, Switzerland, as assistant secretary-general in August 2005. 

Solidarity takes complaints against SA ‘race practices’ to UN 

By: African News Agency      10th May 2017 Solidarity on Wednesday said it had filed a complaint with the International Labour Organisation (ILO) against South Africa over its affirmative action and black economic empowerment policies. “Solidarity contends that government is committing unfair racial discrimination, and requests the ILO to... 

Durban, Joburg and Cape Town join global list of Treepedia cities

By: African News Agency      5th May 2017 Treepedia, an interactive website that measures the “green canopy” – trees and vegetation of cities around the world – has included Johannesburg, Durban and Cape Town as its first African cities. The announcement was made during the World Economic Forum on Africa in Durban on Friday. 

Radisson Blue Hotel – Geneva project, Switzerland

By: Sheila Barradas     24th March 2017 The project entails the construction of a 250-room hotel. 


     17th March 2017 Officials from the US Department of Commerce, together with those from Internal Revenue Service, the Federal Deposit Insurance Corporation and the Illinois State Police raided Caterpillar’s corporate headquarters in Peoria, Illinois, on March 2, reportedly seeking evidence related to allegations... 

Brexit set to change SA’s bilateral economic relationship with the UK 

By: Keith Campbell     3rd March 2017 Last month, during the debate regarding the 2017 State of the Nation address in Parliament, in Cape Town, Trade and Industry Minister Dr Rob Davies highlighted: “[A]s the UK government prepares to trigger exit negotiations from the EU (European Union), we need to prepare for a new trade... 

Musical chairs in the SA automotive industry

By: Irma Venter     3rd March 2017 South Africa’s automotive industry has seen a number of shake-ups in the first two months of the year. WesBank has announced the appointment of Mark Finlayson as the CEO of its Motor division following the departure of Simphiwe Nghona on February 1. 

Brexit set to change SA’s bilateral economic relationship with the UK

By: Keith Campbell     3rd March 2017 Last month, during the debate regarding the 2017 State of the Nation Address in Parliament in Cape Town, Trade and Industry Minister Dr Rob Davies highlighted that “[a]s the UK Government prepares to trigger exit negotiations from the EU [European Union], we need to prepare for a new trade... 

WesBank announces new CEO for its Motor division

By: Irma Venter     10th February 2017 WesBank has announced the appointment of Mark Finlayson as the CEO of its Motor division following the departure of Simphiwe Nghona on February 1. Finlayson is the current CEO of DirectAxis, a subsidiary of WesBank specialising in non-secured personal loans. 

South Africans or self-interest first?

By: Riaan de Lange     3rd February 2017 I woke to bad news recently, being immediately reminded of a television series that has undisputed longevity and is a personification of both innovation and trailblazing. It is the BBC’s 1980s classic, Allo 'Allo! Unless you are of a single-digit age, or a recent arrival to the third rock from... 

Alternative fuels power more than 5 000 flights

By: Martin Zhuwakinyu     8th December 2016 The global airline industry will have made more than 5 000 commercial flights powered by sustainable alternative fuels by the end of the year, reporters attending the International Air Transport Association’s (Iata's) global media day heard on Thursday. The alternative fuels initiative forms part... 

Air cargo volumes encourage, outperforming weak global trade

By: Martin Zhuwakinyu     8th December 2016 Although the global airfreight business continues to face headwinds from weak global trade, the International Air Transport Association (Iata) says there are encouraging signs that growth in air cargo volumes, which came in at 8.2% year‐on‐year in October, will endure into the new year. This was... 

Top gold buyer sees demand slumping on ‘black money’ curbs

By: Bloomberg     25th October 2016 In the world’s largest gold-consuming country after China, demand has just fallen off a cliff. Saurabh Gadgil, a sixth-generation jeweler, says it’s the worst year in India since he took charge of the family business in 1999. The 39-year old chairperson of PN Gadgil Jewellers, which has stores in... 

Rooibos, Honeybush among South Africa’s most widely commercially cultivated plant products

By: Megan van Wyngaardt     4th October 2016 Rooibos and Honeybush, which are both endemic to South Africa, are among the most widely commercially cultivated botanical species originating in the country, with more than 300 trademarks and 20 patents to their names, which is why they have been singled out as local treasures, according to... 

Unctad proposes import-substitution strategy for South Africa 

By: Terence Creamer     21st September 2016 African economies will grow on average by only 2% in 2016 and South Africa by just 0.3%, the United Nations Conference on Trade and Development’s (Unctad’s) latest Trade and Development Report states. North Africa will expand by 1.7% and sub-Saharan Africa by 2.8%, excluding South Africa. The... 

RBCT in due process on proposed Vitol deal

By: Bloomberg     14th September 2016 Africa’s biggest coal export facility, Richards Bay Coal Terminal (RBCT), said a proposed purchase by Vitol Group of a stake of export rights from a company controlled by South Africa’s Gupta family, who are friends of President Jacob Zuma, is subject to standard procedure, according to the... 

Vitol plan to buy Gupta coal terminal stake may be thwarted

By: Bloomberg     12th September 2016 Vitol Group’s plans to buy a stake in Africa’s biggest coal terminal from a company controlled by South Africa’s Gupta family, who are friends of President Jacob Zuma, could be thwarted by the preemptive rights held by existing shareholders in the export facility, people familiar with the matter... 

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